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Bitwise Asset Management has announced the acquisition of ETC Group, a London-based digital asset manager known for creating Europe's largest physical Bitcoin ETP, BTCE. This strategic move elevates Bitwise's assets under management (AUM) to over $4.5 billion and enhances its capability to serve European investors with institutional-grade products.
Bitwise Asset Management's acquisition of ETC Group marks its significant entry into the European market, adding over $1 billion in Bitcoin and crypto assets.
Investment asset management firm Bitwise is taking its ETF journey to a higher level with its latest acquisition. The week started with the firm announcing its intention to acquire ETC Group, a digital-assets issuer based in London.
On 19 August 2024, Bitwise Asset Management announced its acquisition of ETC Group, a significant move that marks the expansion of Bitwise's presence in the European market. Founded in 2019, ETC Group has developed a robust suite of exchange-traded products (ETPs) that have gained substantial traction in the cryptocurrency space.
Bitwise's acquisition of ETC Group signifies a major step in globalizing crypto asset management, enhancing product diversity and market reach. The post Bitwise expands to Europe with strategic acquisition of ETC Group appeared first on Crypto Briefing.
San Francisco-based cryptocurrency index fund manager Bitcoin Asset Management has acquired London-based competitor ETC Group, signalling Bitwise's expansion into the European markets. ETC Group, with over $1 billion in assets under management, owns BTCE, currently the largest physical bitcoin exchange-traded product (ETP) in Europe.
The acquisition of ETC Group's $1 billion in assets under management takes Bitwise's AUM above $4.5 billion.
The move brings Bitwise's total assets under management to $4.5 billion and adds nine European crypto ETPs to its product offerings.
With this acquisition, Bitwise's total assets under management rise above $4.5 billion.
Ethereum Classic price has surged recently following a broader market recovery. This rise in ETC price indicates renewed investor confidence in the market, aligning with the positive momentum seen in other major digital assets.
The cryptocurrency market is facing significant challenges following July's volatility. Ethereum Classic price has not been immune to these headwinds, dropping 5.4% over the past week and an additional 2% in the last day to trade at $21.34 during US business hours on Tuesday.
The CoinDesk 20 gains 1.2% overnight with BCH up 3.0% and ETC up 2.5%.
Thinking about Ethereum Classic (ETC)? Could its price reach $50 soon?
The much-awaited launch of the spot Ethereum ETF is just a few moments away from now. While the broader market condition is pretty shaky due to the Mt. Gox fear, Ethereum & ETH-based tokens have been displaying significant strength.
The first-ever Ethereum (CRYPTO: ETH) spot ETFs have been greenlighted by the SEC and are set to begin trading tomorrow morning. Interestingly, two relatively lesser-known Ethereum-branded coins seem to have outperformed the marquee asset in 24-hour gains.
ETC bears marked another victory in July by forcing a price drop below the $22.9 support.
Market bears seem to have the upper hand in ETC's market. Will that change though?
Crypto hedge funds' bitcoin market exposure has dropped to levels not seen since October 2020, according to an analyst report from ETC Group.
In the ever-volatile landscape of the cryptocurrency market, Ethereum Classic (ETC) stands as a resilient contender, weathering the storm of uncertainty with a steadfast demeanor. However, beneath the surface of apparent stability, a nuanced analysis reveals a tapestry of conflicting signals and potential shifts in market sentiment.
The Directional Movement Index saw the -DI jump above the 20 mark. What is this a sign of?
Since the strong breakout past $29 on 20 May, Ethereum Classic's bullish momentum has slowed down.
Ethereum Classic turns bullish post ETH ETFs approval, and the trend might continue further.
Ethereum Classic (ETC) expanded to $33.13, growing by nearly 22% in a week. Since it is considered undervalued, ETC has a pattern of following Ethereum (ETH) rallies.
The cryptocurrency market has recorded a negative price action despite approval of the spot Ethereum ETF by the SEC. following this, top Ethereum-based altcoins have displayed a similar trend by experiencing a significant correction in their respective portfolios.
